Tax credits/residential energy credits/residential energy efficient property credits/non-business energy property credits available for tax year 2018

[annh89]

RE: 2018 TAXES    Are there any tax credits/residential energy credits/residential energy efficient property credits/non-business energy property credits available for tax year 2018 for which a new central air conditioner or furnace would be eligible?  If so, where can I find the list of units that would qualify and the amount of the tax credit?  If not available or known at this point, does anyone have an educated guess that would help one choose a new residential A/C and Furnace unit that might qualify?  Thanks. 

[gobulldogs101_1]

Is there a credit for energy efficient heater/air units for 2018?

[DoninGA]

No.  See answer below...

[DoninGA · Accepted solution]

The Nonbusiness Energy Property Credit expired after tax year 2017.  This credit was for certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass, energy-efficient windows and skylights, energy-efficient doors, qualifying insulation and certain roofs.

As of this date the Congress has not renewed the Nonbusiness Energy Property Credit for tax year 2018.

The Residential Energy Efficient Property Credit is in effect for 2018 to the end of 2021 - 

Qualified solar electric property, Qualified solar water heating property, Qualified small wind energy property,  Qualified geothermal heat pump property and Qualified fuel cell property costs.

[manny-chatlani]

A bill was passed extending the Nonbusiness Energy Property Credit; called the "Tax Extender and Disaster Relief Act of 2019".  Section 101.

[DoninGA]

@manny.chatlani Please provide a web link showing that the bill was passed by Congress

[Anonymous]

The bill was referred to committee in the Senate as of Mar. 9, 2019. If passed it will extend certain credits to tax year 2018. If passed out of committee, it will go to a floor vote by the full Senate, then to the House for a vote. If passed there, it will go to the President for his signature. For details on the bill, see <a rel="nofollow" target="_blank" href="https://www.finance.senate.gov/imo/media/doc/Tax%20Extender%20and%20Disaster%20Relief%20Act%20of%202...>

[moose1934]

what was the max credit for 2017 taxes for a home hvac system

[petehartman1]

If I rent a couple of the rooms in my house out to tenants but live in the house as my primary residence, am I eligible for the 2019 30% credit on a PV system install?

[DoninGA]

---

@petehartman1 wrote:

If I rent a couple of the rooms in my house out to tenants but live in the house as my primary residence, am I eligible for the 2019 30% credit on a PV system install?

---

Yes.

[MoneyTalks-1591]

We paid $18,000 for new windows yet Turbo says we get no returns why is that?

[CatinaT1]

Have you claimed the residential energy credit before?  There is a $500 lifetime limit and windows have a maximum credit of $200.

This credit is worth a maximum of $500 for all years combined, from 2006 to its expiration.  Of that combined $500 limit, 

• A maximum of $200 can be for windows. 

• The maximum tax credit for a furnace circulating fan is $50. 

• The maximum credit for a furnace or boiler is $150. 

• The maximum credit for any other single residential energy property cost is $300. 

If your windows qualify as an energy efficient improvement.  These are entered in the Deductions & Credits section: 

• With your return open, search for energy improvements in the program search box. (Don't search for "energy credit," as this will take you to the wrong place in the program.) 

• Click Jump to energy improvements in the search results. 

• At the bottom of the Energy-Saving Home Improvements screen, answer Yes and click Continue. 

• Follow the on-screen instructions. 

[BostonKevin]

Hi!

Can I take the residential energy credit for an energy efficient door that replaced an older one in my primary residence if this same house was available for rent at the time that the door was installed?

We are on temporary assignment overseas and rented the house after the door was replaced. We meet the other criteria for the energy credit. 

[DawnC]

Current IRS rules allow residential homeowners to apply a tax credit up to 10 percent of the cost of energy efficient windows under the renewed Residential Energy Property Credit on Form 5695. This tax credit applies to an owner's primary residence. Technically speaking, a landlord who makes energy efficient window upgrades is not eligible for this credit unless he is the owner occupying a multifamily building.  

if the property was available to rent, you may be able to deduct the cost of the replacement doors on Schedule E as a rental expense.  You can deduct the costs of certain materials, supplies, repairs, and maintenance  that you make to your rental property to keep your property in good operating condition.   Capital improvements that add to the value of your rental property, prolong its life, or adapt it to new uses must be depreciated over a period of time rather than deducted as a current-year expense.  Click for examples.   @BostonKevin

Tips on Rental Real Estate Income, Deductions and Recordkeeping - IRS

Where do I enter income and expenses from a rental property? - TurboTax